PC Mastercard Review: Is It Worth It?
The PC® Mastercard® lets you earn PC Optimum points on everyday purchases and redeem them for discounts at Loblaws, the Real Canadian Superstore, Shoppers Drug Mart and more.
Rewards breakdown
Rewards breakdownPoints per 1 litre of purchased gas when you fuel up at Esso and Mobil stations in Canada.
Points per $1 spent at Shoppers Drug Mart and Pharmaprix stores.
Points per $1 spent at eligible Loblaw banner grocery stores and Joe Fresh stores.
Points per $1 spent everywhere else.
NerdWallet's take
NerdWallet's takeWith no annual fee or minimum income requirement, the President's Choice Financial Mastercard is a solid choice for PC Optimum points collectors on a budget. But don’t expect high rewards rates or travel perks. Best for: Budget-minded Loblaw loyalists who spend big at the pharmacy.
Pros
- No annual fee.
- Earn points on everyday purchases.
Cons
- Highest 2.5% earn rate only applies to Shoppers Drug Mart and Pharmaprix.
- No travel insurance.
Card details
Card details- No annual fee.
- Earn at least 30 PC Optimum points per 1 litre of purchased gas when you fuel up at Esso and Mobil gas stations in Canada, equivalent to 3 cents/L back; 25 points per $1 spent at Shoppers Drug Mart and Pharmaprix stores, equivalent to 2.5% back; 10 points per $1 spent at Loblaw banner grocery stores and Joe Fresh, equivalent to 1% back; 10 points per $1 spent everywhere else, equivalent to 1% back.
- Redeem 10,000 points for free products and groceries at participating stores. Redeem 10,000 for a $7 statement credit to pay down your balance or for any car wash (including premium) at Esso stations.
- Purchase Assurance
- Extended Warranty
- Mastercard Global Services replaces your card or offers a cash advance in emergencies.
- Add up to four authorized users for free.
- Subject to credit approval and other eligibility criteria.
A good fit for frequent shoppers at Loblaw-affiliated stores.
Not a good fit for occasional Loblaw shoppers who want a more flexible reward program.
What our Nerds think
"Your spending habits will determine whether the PC Mastercard is a worthwhile addition to your wallet. Generally, the card has an excellent value for shoppers who regularly visit PC Optimum retailers as there’s no annual fee to recoup and it’s easy to earn rewards. However, the card has limited redemption options and relatively thin perks compared to other no-fee cards, which may not appeal to everyone."
- Georgia Rose, lead writer and content strategist.
Note: This card is scored as a Points card, which means 60% of the star rating is based on the card's Rewards, 30% on Fees and Rates and 10% on Perks.
Rewards
"GOOD"
PC Optimum points have a fairly low monetary value compared to other reward programs, but if you shop at Loblaw-affiliated brands regularly, you can see significant returns. Keep in mind, if you meet the income requirements, you may be eligible for one of the higher-tiered cards, which offer up to 4.5% back in points.
Reward earn rate:
1% - 2.5% back in points
PC Optimum point value:
1 point = $0.001
Reward program
PC Optimum
🤓 Get Nerdy: Read more about rewards
Earning rewards
PC Mastercard (no income requirement)
Earn 1% back in PC Optimum points at eligible grocery stores (equivalent to 10 points per $1 spent).
Earn 1% back in points at Joe Fresh (equivalent to 10 points per $1 spent).
Earn 2.5% back in PC Optimum points at Shoppers Drug Mart and Pharmaprix (equivalent to 25 points per $1 spent).
Earn 1% back in PC Optimum points everywhere else (equivalent to 10 points per $1 spent).
Get at least 3¢ per litre back in PC Optimum points at Esso and Mobil (equivalent to 30 points per litre).
PC World Mastercard (minimum income requirement: $50,000 (individual) or $80,000 (household))
Earn 2% back in points at eligible grocery stores (equivalent to 20 points per $1 spent).
Earn 3.5% back in PC Optimum points at Shoppers Drug Mart and Pharmaprix (equivalent to 35 points per $1 spent).
Earn 2% back in points at Joe Fresh (equivalent to 20 points per $1 spent).
Earn 1% back in PC Optimum points everywhere else (equivalent to 10 points per $1 spent).
Get at least 3¢ per litre back in PC Optimum points at Esso and Mobil (equivalent to 30 points per litre).
PC World Elite Mastercard (minimum requirement: $80,000 (individual) or $150,000 (household))
Earn 3% back in points at eligible grocery stores (equivalent to 30 points per $1 spent).
Earn 4.5% back in PC Optimum points at Shoppers Drug Mart and Pharmaprix (equivalent to 45 points per $1 spent).
Earn 3% back in points at Joe Fresh (equivalent to 30 points per $1 spent).
Earn 1% back in PC Optimum points everywhere else (equivalent to 10 points per $1 spent).
Get at least 3¢ per litre back in PC Optimum points at Esso and Mobil (equivalent to 30 points per litre).
Redeeming rewards
PC Optimum points can be redeemed for discounts on in-store and online purchases at participating retailers.
You must have at least 10,000 PC Optimum points for an in-store or online redemption, worth up to $10 off your purchase. Points can be redeemed up to a maximum of $500 off one purchase. Popular participating retailers include:
Joe Fresh.
Loblaws.
No Frills.
Real Canadian Superstore.
Shoppers Drug Mart.
Esso.
You can also redeem points for a statement credit at a reduced value of $7 per 10,000 points.
Fees and rates
"GOOD"
The PC Mastercard has no annual fee and additional cards can be ordered for free. However, its purchase APR and FX fee are slightly above the average for a points card, according to NerdWallet’s analysis.
Annual fee:
$0
Purchase APR:
21.99%
Foreign transaction fee:
2.5%
🤓 Get Nerdy: Read more about fees and rates
Annual fee: $0
The average annual fee for a Points card in Canada: $60*
Purchase interest rate: 21.99%
The average purchase interest rate for a Points card in Canada: 21.09%*
Cash advance interest rate: 22.97% (21.97% for Quebec residents)
Cash advances apply to cash-like transactions, such as ATM withdrawals, and start accruing interest immediately.
Balance transfer fee: Up to 5%
This is the ongoing fee, outside of any promotions the issuer runs.
Penalty APR: 26.99%
Penalty APR is 26.99% for purchases and 27.95% for cash advances if you miss two consecutive monthly payments.
Foreign transaction fee: 2.5%
Foreign transaction fees are charged on any purchases made in foreign currencies or when overseas.
The average foreign transaction fee for a Points card in Canada: 2.41%*
Additional card fee: $0
*according to NerdWallet’s analysis of over 200 credit cards, as of this writing.
Perks
"POOR"
Aside from the purchase protection and extended warranty coverage, the PC Mastercard offers only one notable perk: Mastercard Global Service, which provides 24/7 emergency assistance if your card is lost or stolen.
Insurance coverage:
Basic
Travel perks:
None
Digital Wallets:
Apple and Google pay
🤓 Get Nerdy: Read more about perks
Connect your PC Optimum account. Track all your points in one place by linking your PC Financial Mastercard and PC Optimum accounts.
Mastercard Global Service. Access round-the-clock emergency assistance should you need to report a lost or stolen card, get an emergency card replacement, request a cash advance, find an ATM and more.
Unlimited points: No caps or limits on the points you can earn.
Travel insurances: Medical and rental car coverage is available with the World Elite tier only.
Concierge services: Only available with the World and World Elite tiers.
Welcome offer
Get up to 50,000 bonus PC Optimum points when you apply by August 31, 2026
Estimated value of offer:
$50
Spend requirement:
Spend $100 or more at participating stores within 60 days of account approval
Reward type:
PC Optimum points
🤓 Get Nerdy: Read more about the welcome offer
Get up to 50,000 PC Optimum points when you spend at least $100 in qualifying purchases within the first 60 days. Qualifying stores include Loblaw banner grocery stores, Shoppers Drug Mart and Pharmaprix, Esso and Mobil gas stations, Joe Fresh stores and The Mobile Shop stores.
Eligibility
To be eligible for the PC Mastercard, you must:
✓ Be a Canadian resident
✓ Be at least the age of majority in your province or territory
The PC Mastercard does not have a minimum income requirement, however, the other two card tiers (World and World Elite) do:
PC World Mastercard: At least $50,000 individual income (or $80,000 per household).
PC World Elite Mastercard: At least $80,000 individual income (or $150,000 per household).
🤓 Get Nerdy: Read more on how to apply
How to apply for the PC Mastercard
The application process for the PC Mastercard can be completed online by visiting the PC Financial website. You’ll need to review the card’s terms and conditions, enter your personal details and submit the application.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
Customer ratings and Reddit chatter
Above average in customer satisfaction: PC Financial ranks third out of 13 institutions in online banking satisfaction according to J.D. Power’s 2024 Canada Credit Card Satisfaction Study.
Low Trustpilot rating: PC Financial has 1.2 out of 5 possible stars based on over 650 customer reviews, as of this writing.
Poor Better Business Bureau rating: PC Financial 1.27 out of 5 possible stars based on over 35 customer reviews, as of this writing.
What Reddit has to say
We know expert recommendations matter — but so do real-life experiences. On Reddit, Canadian users talk about the convenience of the PC Mastercard when shopping regularly at affiliate stores. While others talk about the restrictive reward program — possibly leading to cardholders buying things they don’t need just to get the points at an eligible retailer.
How PC Financial Mastercards compare
PC Financial has four credit cards, but applicants choose between two paths: the no-fee lineup or the paid PC Insiders World Elite Mastercard.
The no-fee options include the PC Mastercard, PC World and PC World Elite. When you apply, the card you’re approved for depends on your income and credit history.
World Elite vs. Insiders World Elite
If you qualify for the no-fee World Elite, compare it closely with the Insiders card. The paid card is only likely to come out ahead if you’ll use its PC Express benefit or spend enough within the PC Optimum ecosystem to make its higher earn rates worth the fee.
Methodology
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Shannon Terrell
Shannon Terrell